When we speak to businesses who don’t currently have a social media strategy in place, many of them will say something along the lines of “we’re not sure if it’s the right investment for us right now”.
At the same time, virtually everyone will say “oh yeah, social media is totally the future”. There’s a misalignment in the thoughts and behaviours of businesses. They know deep down that they need to invest in social media, but they choose to put it off until they feel that they really need it.
Maybe they perceive it as a bit of risk, since it does require some initial upfront investment. However, in our opinion, in 2015 it’s actually more risky to not invest in social media.
The facts are already there. More people are using social media for longer, and online content is becoming an increasingly significant factor in affecting purchasing decisions of consumers. If you want to secure the future of your business, it’s not a matter of “if” you invest in social media, it’s a matter of when.
That’s why we feel that that it’s our duty to remind businesses that there’s never a perfect time to step out of your comfort zone, and inform them that right now is actually the perfect time to invest in social media.
In this blog post, we’re going to explain 3 reasons why you should invest in social media NOW.
3 Reasons you Should Invest in Social Media NOW
1.) It’s Effective
As the old saying goes, you should strike while the iron is hot. At this point, in 2015, social media is incredibly effective as a marketing tool. That means you should invest in it now.
You don’t want to get in on the action too late. Remember, some poor soul out there would have bought 1000 horses the day before Henry Ford set up the Model T. You don’t want to be like that guy. Five years down the line it might not be as effective as it is right now, just like radio advertisements aren’t as effective right now as they were in the 80s.
It’s impossible to try and predict where the market will go in the future. All that you can do is respond to what’s currently an effective marketing tool. If you know that right now social media is the most effective tool for marketing, why wouldn’t you want to invest in it right now?
2.) It’s Only Going to get More Expensive
One word: Arbitrage.
Right now, social media is an incredibly cheap and cost-effective way to advertise your business. Advertising on Facebook is a fraction of the price of newspaper and radio advertisements.
That being said, it’s getting more expensive. It’s already far more expensive than it was when Facebook first implemented their advertising platform, costing literally pennies to do so. This trend is only set to continue.
While the price would have to be several times more expensive to cease to be a cost-effective form of marketing, delaying your investment in social media could cost you a lot more in the future when you do eventually invest into it.
It costs less to invest in social media now than it will in just a year’s time, so the time to invest is now.
3.) Your Competitors are on Social Media
Okay, so you’re ideologically opposed to the idea of social media because you think it’s a 21st century tragedy that is replacing human interaction. Maybe you have the audacity to think that your business can manage in the next decade just find without it.
Well that’s all well and good, but the fact of the matter is that your competitors are using social media. And if they’re not, you can guarantee that they will be within the next 5 years. For every day that they’re on social media and you’re not, they’re effective stealing business from you. They’re snatching the customers which might have turned to you had you had a presence online.
If you wait a few more years before deciding to invest in social media, your competitor could have a stranglehold on the market that you’re trying to claim. For the next decade, you could be playing catch-up to your competitors, and paying far more than they ever did to pay for advertising as mentioned in the second point of this blog post.
Hopefully this blog post will have convinced you that now is the time to invest in social media. If you’re looking for a digital marketing agency to handle your social media content for you, then look no further than us at Vagabond Media.
Altered Image Credit: Royblumenthal on Flickr.